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External sources (not reviewed)

Covalent Materials Corporation (the “Company”) announced in the press release “Re: Holding of Bondholders Meeting concerning Amendment to the Terms and Conditions (Extension of Maturity Date, Increase in Interest Rate, Increase in Redemption Amount, etc.) and Offer to Purchase of the 1st Series Unsecured Bonds”, dated September 13, 2012, to hold a bondholders meeting in relation to an amendment to the terms and conditions (extension of maturity date, increase in interest rate, increase in redemption amount, etc.) (the “the Proposal”) of 1st Series Unsecured Bonds (with inter-bond pari passu clause) (ISIN code: JP330135A829) (the “Bonds”), as well as to amend the conditions of the offer to purchase the Bonds (the “Purchase Offer”) which is subject to, among other things, the approval of the Proposal at the bondholders meeting of the Bond and the court’s approval of such bondholders’ resolution.

Today, the Company was informed by a group of bondholders (the “Group”) represented by Blackstone Advisory Partners L.P., that approximately 65% of the total Bonds outstanding have agreed to vote in favor of the proposal at the bondholders meeting and tender all Bonds held by them into the purchase offer at the terms referred to in the press release “Re: Holding of Bondholders Meeting concerning Amendment to the Terms and Conditions (Extension of Maturity Date, Increase in Interest Rate, Increase in Redemption Amount, etc.) and Offer to Purchase of the 1st Series Unsecured Bonds”, dated September 13, 2012.

[...] [...] available with respect to collateral such as household [...] [...]

[...] [...] overcollateralization and the use of collateral with no economic value; (ii) e-money, [...] [...]

[...] [...] respect of any type of collateral, but in particular when the collateral’s value is intangible [...] [...]

[...] [...] by personal obligation or by mortgaging or charging [...] [...]

[...] [...] outright or as collateral security for any [...] [...]

[...] [...] any security pledged and availability [...] [...]

Hundreds of people were thus prevented by the security forces from reaching the border, or returning to their homes and thus accessing food, water and basic goods for at least two days.

[...] [...] whose assets solely or substantially comprise securities of the Company, and the grant, acceptance, acquisition, disposal, transfer, exercise or discharge of any option [...] [...]

(n) To receive money on deposit or loan and borrow or raise money in such manner as the Company shall think fit, and in particular by the issue of debentures, or debenture stock (perpetual or otherwise) and so secure the repayment of any money borrowed, raised or owing mortgage, charge or lien upon all or any of the property or assets of the Company (both present and future), including its uncalled capital, and also by a similar mortgage, charge or lien to secure and guarantee the performance by the Company or any other person or company of any obligation undertaken by the Company or any other person or company as the case may be.

When the Group’s share of losses in a jointly controlled entity equals or exceeds its interest in the jointly controlled entity, including any other unsecured receivables, the Group does not recognise further losses, unless it has incurred obligations or made payments on behalf of the jointly controlled entity.

(d) To sell, exchange, mortgage, charge, let on rent, share of profit, royalty or otherwise, grant licences, easements options, servitudes and other rights over, and in any other manner deal with or dispose of, all or any part of the undertaking, property and assets (present and future) of the Company for any consideration and in particular (without prejudice to the generality of the foregoing) for any securities.

Rather, they were to be treated indiscriminately as “unlawful enemy combatants” who could be held indefinitely without charge or trial or the possibility to challenge the legality of their detention before a court or other judicial authority.

Three specific recommendations were discussed in detail, emphasizing that (a) prevention efforts should include increased regulation and supervision of dealers in cultural property by keeping a registry of all transactions; (b) Governments should criminalize the illicit import, export or transfer of cultural property; and (c) cultural property should be seized by the authorities if licit provenance could not be established.

(d) Release all persons arbitrarily detained and ensure that no one is detained in secret detention facilities under the de facto effective control of States authorities; investigate and disclose the existence of any such facilities, the authority under which they have been established and the manner in which detainees are treated in such facilities; as well as proceed immediately to close all such facilities

Some observers still question special protection and assistance interventions on the basis of internal displacement, arguing that this tends to detract attention from the true causes of vulnerability such as poverty, gender or ethnic minority status, or that it disregards the needs of other affected populations unable to reach a safer part of the country.

His Government understood the relevant paragraphs to mean that implementation was directly contingent upon Israel’s compliance with the demand that it cease its systematic violations of the human rights of the Palestinian people, including the excessive use of force; the use of collective punishment; the confiscation of land; the continuation of settlement policies; the construction of the racist separation wall; the detention of thousands of innocent Palestinians; and all other actions by it designed to change the legal status and demographic composition of the Occupied Palestinian Territory.

Alternative A: A Member State/Contracting Party may fulfill Article D(1) by providing any other exception or limitation in its national copyright law that is limited to certain special cases which do not conflict with a normal exploitation of the work and do not unreasonably prejudice the legitimate interests of the right holder.

30 The Company shall have a first and paramount lien on every share (not being a fully paid up share) for all moneys, whether presently payable or not, called or payable at a fixed time in respect of such share; and the Company shall also have a first and paramount lien and charge on all shares (other than fully paid up shares) standing registered in the name of a member (whether solely or jointly with others) for all the debts and liabilities of such member or his estate to the Company and whether the same shall have been incurred before or after notice to the Company of any equitable or other interest of any person other than such member, and whether the period for the payment or discharge of the same shall have actually arrived or not, and notwithstanding that the same are joint debts or liabilities of such member or his estate and any other person, whether such person is a member of the Company or not.

(iv) Any security interest referred to in subparagraph (i), (ii) or (iii) and which extends to future advances or liabilities shall, on and from the appointed day, be available to Bank of East Asia (whether for its own benefit or, as the case may be, for the benefit of any other person) as security for the payment or discharge of future advances and liabilities to the same extent and in the same manner in all respects as future advances by, or liabilities to, First Pacific Bank or, as the case may be, Bank of East Asia were secured thereby immediately before that day.

3.4 To stand surety for or to guarantee, indemnify, support or secure the performance of all or any of the obligations of any person, firm or company whether or not related or affiliated to the Company in any manner and whether by personal covenant or by mortgage, charge or lien upon the whole or any part of the undertaking, property and assets of the Company, both present and future, including its uncalled capital or by any such method and whether or not the Company shall receive valuable consideration therefor.

[...] [...] a subsidiary, pledged bank deposits [...] [...]

(B) All instructions and Transactions relating to any joint Account or (as the case may be) any Service, in the event of the death, or mental and/or other incapacity of or the occurrence of an Insolvency Event in relation to any one or more of the joint Account holder shall be subject to any claim or objection of relevant authority and shall be without prejudice to any right which we may have arising out of any lien, charge, pledge, set-off, claim, counterclaim or otherwise whatsoever or any step or legal proceedings which we may in our absolute discretion deem desirable to take in view of any claim by any person other than the survivors, executors, administrators of the deceased.